On October 2, 2018, PIMCO announced that it had agreed to acquire Gurtin Municipal Bond Management.
Combined, Gurtin Municipal Bond Management (“Gurtin”), a specialist muncipal bond manager, and PIMCO, one of the world’s leading fixed income investment managers, will manage approximately $38 billion in dedicated municipal bond assets.
Gurtin is expected to maintain its San Diego and Chicago offices, and its investment team will continue to manage its funds and separate accounts. Bill Gurtin, Gurtin’s Founder, CEO and CIO, will also continue to be involved in the business.
The transaction is expected to close in the fourth quarter of 2018.
Further terms of the deal were not disclosed.
To read the press release: please click here